SPML Infra Limited — Updates, 03-04-2025: Press Release

SPML Infra Limited has signed an exclusive agreement with Energy Vault, USA, to accelerate the manufacturing and deployment of Battery Energy Storage Systems (BESS) in India. This collaboration is poised to create significant advancements in India's green energy sector by utilizing Energy Vault's B-VAULT technology. The partnership aims to manufacture a minimum of 500 Megawatt-hours (MWh) of energy storage over the next 12 months, heading towards a target of 30-40 Gigawatt-hours (GWh) over the next decade.

This strategic move aligns with India’s goal of achieving 500 GW of non-fossil fuel electricity capacity by 2030 and enhancing the country's energy stability. As the energy storage market is projected to grow substantially, driven by increasing demand and government policies, SPML's involvement positions it as a key player in this transformation. With a focus on local production, the partnership is expected to bolster SPML’s revenue and contribute positively to its standing in the BESS market. Investors should monitor this development closely given the promising outlook for sustainable energy initiatives in India.